Agencies-Gaza post
Petrol hits high record of 185p litre as cost of living crisis deepens
The average cost for a litre of petrol has hit a new level high of 185.04p in further pain for drivers.
The average price of diesel was 190.92p per litre on Sunday, including dropped slightly back from a record of 191.03p on Saturday.
This comes after the price of serving up a 55-litre family car hit the £100 threshold on Thursday last week.
After a week, petrol averaged 177.88p a litre and diesel 185.01p, denoting a rise of 7.16p in a week for petrol and 5.91p for diesel.
Besides, one year ago, petrol averaged 130.53p a litre and diesel 132.93p.
The surging price of fuel for drivers comes despite wholesale expenses being lower than before the pre-Jubilee peak.
The wholesale price of petrol hit 100.17p a litre on June 1 before tax and had fallen to 96.10p on Friday. This morning, so far, it stays at around 96p a litre.
The increasing cost of fuel is related to expensive oil prices.
The price of oil is going up due to its demand and this has been made worse by the war in Ukraine.
There were already needs that sent fuel skyrocketing last year and now businesses are cutting off ties to Russian oil.
Luke Bosdet, the AA’s fuel price spokesman, said, “Petrol price rises should be grinding to a halt, at least temporarily, by the end of the week.
“There may still be some forecourts yet to pass on the recent surge in costs.
“If they continue to go up substantially afterwards, we will be intrigued to hear what excuses the fuel trade has this time.
“If prices keep going up, they will give the Government further justification in its call to the Competition and Markets Authority for an investigation.
